Stocks - U.S. Futures Slip Amid Global Trade Tensions

U.S. futures fell on Monday as global trade tensions continued to dampen investors’ risk appetite.

China released a government paper on Sunday, accusing the U.S. of undermining trade negotiations, and warned that a continued tit-for-tat trade war will hurt the global economy.

Meanwhile, Mexico sent a delegation to Washington to start talks after President Donald Trump announced plans to increase tariffs on Mexican goods in order to pressure it into stopping illegal immigration into the U.S. .

Amazon.com (NASDAQ:AMZN) fell 0.9% after the Washington Post and New York Times reported that the Department of Justice had agreed to let the Federal Trade Commission lead antitrust scrutiny of the company.

Alphabet (NASDAQ:GOOGL), the parent company of Google, was down 2.9%, after its YouTube, Gmail and Google Cloud services were disrupted on Sunday.

Boeing (NYSE:BA) slipped 1.4% on reports that some of its 737 planes could have defective parts on its wings.

Carnival was down 0.6% ahead of a federal court hearing in Miami on a settlement agreement relating to alleged environmental offenses.

Elsewhere, Netflix (NASDAQ:NFLX) inched up 0.2%, while semiconductor company Cypress (NASDAQ:CY) jumped 23.8% on news that it is being acquired by German chipmaker Infineon Technologies (DE:IFXGn) in a $10 billion deal, including debt.

Manufacturing data in Asia overnight showed that activity in the region is weakening, while euro zone manufacturing registered its fourth consecutive contraction.

In commodities, crude oil rose 0.8% to $53.95 a barrel, while gold futures gained 0.8% to $1,322.15 a troy ounce. The U.S. dollar index, which measures the greenback against a basket of six major currencies, lost 0.1% to 97.590.

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